GST council rectifies some anamolies

Hyderabad Sept 10: The 21 GST Council crucial meeting took place yesterday in Hyderabad. The council has taken some crucial important decisions. Breifing the media Arun Jaitley has said that the

* The council has increased the cess on medium and luxury cars.

* Mid-segment cars to attract 2 % additional cess.

* Large cars will have to pay 5 % additional cess.

* SUV will attract 7 % additional cess.

The 4 segments of small cars will not attract any increase in cess

* petrol cars.

* diesel cars.

* hybrid cars.

* 13 seated vehicles.



The council has also decided that

* Branded food items which have registered a trademark before 15/5/17 must pay 5 % tax.

* Any food item which as brand or company name which as actionable claim must pay 5 % tax.

He has said that we have taken this decision after many people have deregistered their trademarks and sold under the corporate name to avoid paying taxes and we have plugged this loop hole.

* The council has also decided a ministers body will be formed to review the functioning of GSTN network.

* The GST Council has decided to set up a committee consisting of officers from both the Centre and the States under the chairmanship of the Revenue Secretary to examine the issues related to exports.